According to a new AdobeCommerce US consumer study, Americans' Prime Day spending this year will focus on essential products. As the consumer environment becomes more uncertain due to the pandemic, people's desire to "go crazy" has decreased. What to buy and how to buy it cost-effectively have become topics of concern to Americans. The new survey shows that 61% of respondents are looking forward to shopping on Prime Day, but this overall number varies greatly by age. Younger consumers are more likely to shop on Prime Day and other summer events than older consumers, such as Generation Z (85%), Millennials (79%), Generation X (64%), and Baby Boomers (38%). Of those who plan to take part in summer sales, 76% said they will spend more or the same amount as last year. The top motivations include saving money (56%), early holidays (32%) and back-to-school shopping (23%). The categories respondents plan to purchase include clothing/apparel (43%), home furnishings/improvements (29%), health and beauty (26%), computers/electronics (22%), pet supplies (17%), and toys (16%). Additionally, 64% of respondents believe Prime Day discounts will be lower than last year. Nearly 24% of respondents said they do not plan to shop on Prime Day because they have less money to spend due to inflation and higher commodity costs. Others will not participate this year. Online shopping gains traction The survey shows that almost all respondents shop online (93%), including 50% of Generation Z, 49% of Millennials and 35% of Generation X. 50% of respondents said they are now more likely to shop on their mobile phone, compared to 26% who prefer to shop in-store and 24% who prefer to shop via computer or desktop. When a store is out of stock, 57% of respondents shop online. 76% of respondents said they search online for a better price and read product reviews before buying in-store, while 60% compare prices with other retailers on their phone before buying a product. The generations that do this most are Gen Z (86%) and Millennials (77%). Consumers seek new personalized experiences 67% of respondents said they would like to receive personalized promotions or offers based on their spending habits when shopping in-store or online. The likelihood of purchase also varies by generation, with 72% for Gen Z, 78% for Millennials and 66% for Gen X. 37% of respondents are open to augmented reality experiences, 28% are interested in immersive and interactive shopping experiences (such as shopping in virtual worlds), and 26% have already participated in live shopping events. BNPL and BOPIS are becoming more popular Buy now, pay later (BNPL) payments are becoming increasingly popular among respondents, particularly Gen Z and Millennials. More than four in ten (43%) respondents said they are more likely to buy from a retailer that offers BNPL because it is easier to pay (62%), they want to take advantage of instalments (45%), have more flexibility with their purchases (49%), or because of low or no interest rates when paying (22%). BOPIS is also gaining popularity among consumers, with 57% of respondents saying they use BOPIS and 80% taking advantage of this form of delivery two or more times. The majority (79%) of respondents who use BOPIS like it because it is convenient, while 49% say it helps them get their orders faster than shipping, and 29% like it because it allows them to receive their items the same day. Free returns are a top priority 90% of respondents want retailers to offer free returns. If a retailer charges a return fee, more than half (57%) are more likely to not buy from that retailer again, and 46% are likely to buy the item from another retailer. Respondents also want the option to return items at a retailer’s store location (60%), by mail (56%) or at another return location closer to where they live (46%). Editor✎ Ashley/ Disclaimer: This article is copyrighted and may not be reproduced without permission. |
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